NewEnergyNews: Global New Energy In The Pandemic

NewEnergyNews

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YESTERDAY

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    Founding Editor Herman K. Trabish

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  • MONDAY’S STUDY AT NewEnergyNews, October 26:
  • LNG Gets Sick From The Virus

    Friday, July 31, 2020

    Global New Energy In The Pandemic

    Renewable Energy Is Seizing Market Share During The Pandemic

    Nick Cunningham, July 22, 2020 (OilPrice.com)

    “Renewable energy has surged to capture a record share of global electricity generation, seizing more market share during the coronavirus downturn. The steep drop in electricity demand, down by more than a fifth in some parts of the world, has hit energy producers everywhere. But because renewable energy has zero variable costs – the sun and wind are free once solar and wind farms are constructed – coal and natural gas are often pushed out of the market first…

    [R]enewables in some places are seizing the opportunity…[They] accounted for 44 percent of power generation in the European Union in the second quarter, up sharply from 37.2 percent in the same period a year earlier…[The European Commission is also considering] raising the emissions reductions target to as high as 55 percent from 44 percent…[But] roughly $697 billion worth of recovery investment has been funneled into oil, gas and other carbon-intensive sectors such as aviation…[and only] $54 billion has gone to green policies…” click here for more

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